Summary
This proposal seeks to formally sunsetting two FiRM markets by setting their market ceilings to zero and pausing new borrows. The markets targeted for deprecation are: PT-sUSDe-25SEP25 and PT-USDe-25SEP25. These actions follow FiRM’s lifecycle management process for expired Pendle principal token markets and form part of ongoing operational cleanup to streamline FiRM’s collateral roster, reduce monitoring overhead, and improve protocol efficiency.
Motivation
As FiRM continues to evolve, regularly pruning expired markets or those whose risk-reward measure are no longer favorable ensures the protocol remains efficient, secure, and focused on productive opportunities. Principal tokens (PTs) issued by Pendle Finance have clear maturity dates; once past expiry, they no longer serve a viable purpose for new borrowing.
The PT-sUSDe-25SEP25 and PT-USDe-25SEP25 markets are both now past maturity, and continued support would unnecessarily consume RWG monitoring resources while offering no utility to borrowers.
On-Chain Actions
For each market listed:
-
PT-sUSDe-25SEP25:
pauseBorrows = true,setMarketCeiling = 0 DOLA -
PT-USDe-25SEP25:
pauseBorrows = true,setMarketCeiling = 0 DOLA